Russian billionaire Mikhail Fridman and banker Petr Aven, both the target of EU sanctions following the invasion of Ukraine, are withdrawing from the LetterOne investment fund they co-founded, the company said Wednesday.
LetterOne, with headquarters in Luxembourg and offices in London, owns net assets worth 22.3 billion dollars invested in the energy, technology, health and retail sectors. They resigned from the board of directors whose current non-executive chairman Mervyn Davies, a former Labour minister, takes the reigns of the group.
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